After a big talk down of the share price from the CEO and himself (+several other managers) tanking more shares on the low we now have an very good quarter from MüRe. It makes me dislike the CEO even more looking at his personal agenda to enhance his fortune at the cost of some poor guys that bought the shares around 200 €.
For the report in full please go here and for my previous summary go to MüRe report Q1 2015 and to find out more about MüRe please visit analysis of MüRe 2015.
This time there were no complaining. Only talks of how good things are and that they will have to increase the guided earnings for the full year to over 3 billion € from the previous 2.5-3 billion €. I guess the CEO bought all the shares he needed so now he then decided to talk up the share price again.
The turn here was very quick and as can be seen below the Q2 was indeed excellent for MüRe. They finally managed to increase the gross premiums written which has been on a down slope for some time now. They have also managed to decrease the claims paid out which in the end leads to a total higher earnings for the running half year compared to in 2014. Already today the earnings are up at 11.12 € per share which gives us hope of a remained and maybe even once again an increased dividend for 2015.
Conclusion: MüRe had a such an excellent quarter that they covered for the bad Q1 and then some! I really do not like what the CEO and the managers have been up to and my attitude towards them have therefore also changed in a negative way. I will remain as a shareholder but less loyal then what I was before.
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